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Iran to boost oil export to Europe in coming weeks

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Staff writer ▼ | February 1, 2016
Iranian President's Chief of Staff Mohammad Nahavandian announced plans to boost the volume of oil production and exports to Europe in the coming weeks.
Mohammad Nahavandian
After sanctions   Total will buy in cash and with no limits
"Total will start its purchase from Iran in cash again and with no limits. The plan is to increase the volume of production and exports in next three weeks," Nahavandian said in an interview with the state-run TV.

According to him, Total is keen to restart cooperation with Iran in the LNG sector while numerous European companies have also voiced interest in joint natural gas production projects.

His remarks came after the National Iranian Oil Company (NIOC) and Total signed a Memorandum of Understanding (MoU) which foresees crude oil sale to the major European firm.

Prior to signing of the document last Thursday, Total had announced that the Iranian and French parties agreed on a 150-200 thousand barrels a day crude oil transaction.

The MoU was endorsed by NIOC Managing Director Rokneddin Javadi for Iran and a senior Total manager for France in the presence of the two countries’ presidents. ■